Merrill Lynch takes 125K sf at 75 Rockefeller Plaza

Landlord RXR Realty poured $150M into renovations since 2014

TRD New York /
Jun.June 21, 2016 09:00 AM

Merrill Lynch Wealth Management is trading its Fifth Avenue digs for four floors at RXR Realty’s newly-renovated 75 Rockefeller Plaza.

The investment company signed a lease for 125,000 square feet on the second through fifth floors of the 623,000-square-foot building, Commercial Observer reported. Since 1998, Merrill Lynch has roughly the same amount of space 717 Fifth, according to CoStar.

Terms of Merrill’s long-term lease at 75 Rock were not reported, but asking rents in Midtown averaged $81 per foot during the first three months of 2016, according to Colliers International.

Scott Rechler’s RXR took control of the building in 2013 when it signed a 99-year, triple-net lease with the owner, British billionaire Mohamed Al Fayed. It has poured $150 million into renovations since the 2014 departure of anchor tenant Time Warner Cable.

Merrill was represented by CBRE’s Robert Alexander, Ryan Alexander, Ramneek Rikhy and Emily Jones. Cushman & Wakefield’s Bruce Mosler, Tara Stacom and Mikael Nahmias represented RXR.

In addition to Merrill, other tenants include doll brand American Girl, which signed a 40,000-square-foot lease at the building’s retail space. Last year, Bank of America took a 200,000-square-foot lease at 75 Rock. [CO] – E.B. Solomont


Related Articles

arrow_forward_ios
Airbnb’s Brian Chesky, RXR Realty’s Scott Rechler and 75 Rockefeller Plaza (Credit: Rechler by Eugene Gologursky/Getty Images, 75 Rockefeller)

Airbnb and RXR nix resi conversion deal at 75 Rock

Airbnb and RXR nix resi conversion deal at 75 Rock
RXR Realty's Scott Rechler and 2413 Third Avenue in the Bronx (Credit: Getty Images; Google Maps)

RXR planning 200-unit South Bronx project

RXR planning 200-unit South Bronx project
James Whelan, Scott Rechler and Jonathan Gray (Credit: Rechler by Eugene Gologursky/Getty Images; Whelan by Axel Dupeux; Gray by Drew Angerer/Getty Images; CDC)

With New York in crisis, real estate pitches in

With New York in crisis, real estate pitches in
CBRE CEO Mary Ann Tighe and RXR Realty CEO Scott Rechler

Rechler, Tighe assess pandemic’s effects on NYC real estate

Rechler, Tighe assess pandemic’s effects on NYC real estate
TRD Talks Live

Tune in tonight: TRD Talks with Mary Ann Tighe and Scott Rechler

Tune in tonight: TRD Talks with Mary Ann Tighe and Scott Rechler
A photo illustration of Scott Rechler and the SS United States (Credit: Eugene Gologursky/Getty Images for National Eating Disorder Association, Brian W. Schaller via Wikipedia)

RXR is looking for space…to park a $500M ocean liner

RXR is looking for space…to park a $500M ocean liner
Colony Capital's Tom Barrack and RXR Realty's Scott Rechler (Credit: Getty Images)

Colony Capital sells stake in RXR Realty

Colony Capital sells stake in RXR Realty
Larkin Plaza (Credit: Rendering courtesy of SLCE Architects)

RXR project among developments caught up in alleged Gambino mob scheme

RXR project among developments caught up in alleged Gambino mob scheme
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...